US Bancorp DE boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 415.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,305 shares of the communications equipment provider's stock after buying an additional 146,141 shares during the quarter. US Bancorp DE's holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $1,374,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in ERIC. Pinnacle Associates Ltd. purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the third quarter worth $363,000. Lake Street Advisors Group LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 73.7% during the 3rd quarter. Lake Street Advisors Group LLC now owns 26,649 shares of the communications equipment provider's stock valued at $202,000 after acquiring an additional 11,308 shares during the period. International Assets Investment Management LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) during the 3rd quarter valued at about $145,000. Allspring Global Investments Holdings LLC grew its position in Telefonaktiebolaget LM Ericsson (publ) by 151.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 22,712 shares of the communications equipment provider's stock valued at $172,000 after acquiring an additional 13,683 shares in the last quarter. Finally, Vest Financial LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the third quarter worth about $77,000. 7.99% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a "neutral" rating in a research note on Monday, October 21st. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $6.70.
Read Our Latest Analysis on ERIC
Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.2 %
Shares of ERIC stock traded down $0.02 during trading hours on Friday, reaching $8.23. 14,982,110 shares of the stock were exchanged, compared to its average volume of 16,686,865. The business's fifty day moving average is $7.83 and its two-hundred day moving average is $6.79. The firm has a market capitalization of $27.43 billion, a P/E ratio of -274.33 and a beta of 0.81. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.54 and a 12-month high of $8.62. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95.
Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. The company had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. As a group, research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.45 EPS for the current fiscal year.
Telefonaktiebolaget LM Ericsson (publ) Company Profile
(
Free Report)
Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.
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